Arabs Nations Turn Up the Heat on Qatar

The United Arab Emirates, Kingdom of Saudi Arabia, Kingdom of Bahrain and Arab Republic of Egypt on Tuesday issued the following statement.

“The four nations value the efforts being made by the United States, US, to counter terrorism and dry up sources of terror finance as well as the full-fledged robust partnership demonstrated in the Islamic-US Summit, which formed an international decisive position against extremism and terrorism, regardless of their sources and origin.

While the four nations believe that the Memorandum of Understanding on Combating the Financing of Terrorism between the US and the Qatari authorities came as a result of repeated pressures and demands over the past years by the four nations and partners to Qatar to stop supporting terrorism, they emphasise that such a step is not enough and they will closely monitor the seriousness of Qatar in combating all forms of funding, supporting and fostering of terrorism.

The quartet affirms that the measures they have taken were motivated by the continuous and diversified activities of the Qatari authorities in supporting, funding and harbouring terrorism and terrorists, as well as promoting hateful and extremist rhetoric and interfering in the internal affairs of states. Qatar should completely and finally stop these activities and implement the list of 13 fair and legitimate demands, in addition to any demands that the four nations may later announce, after the world knows about the insincerity of the Qatari authorities.

The Qatari authorities have consistently negated all their agreements and commitments, including the Riyadh Agreement in 2013, which triggered the withdrawal of ambassadors from Doha. The ambassadors were only returned after Qatar signed the supplementary agreement in 2014. However, Doha has continued to meddle in the internal affairs of states, and has incited, colluded and harboured terrorists, funded terror operations, and spread messages of hatred and extremism.

Consequently, the four nations cannot trust any commitments made by Qatar because of its existing policies, and will introduce strict monitoring mechanisms to ensure its sincerity to return to the rightful course.

The four nations also affirm that the said measures will remain in place until the Qatari authorities commit themselves to fully implement these fair demands, which seek to counter terrorism and realise stability and security in the region.”

Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.